News

 

Fannie Mae's November 2014 Housing Survey Data Shows Uneven Activity, Support Forecast for Gradual Recovery in 2015

 
    - Katie Penote - Fannie Mae

 

News 

12/8/2014 - Americans' Attitude Towards Housing Uneven, But Improving
 

WASHINGTON, DC – Results from Fannie Mae’s November 2014 National Housing Survey show that Americans’ attitudes toward housing have tracked closely with the uneven 2014 housing market trend, which is improving but lagging behind the overall economy trend. According to the survey results, consumers’ personal financial outlook has increased fairly steadily during the year, lending support to the ongoing housing market recovery. The share of respondents who expect mortgage rates to go up in the next 12 months decreased again to 45 percent, in line with a gradual but uneven decline since the beginning of the year. On the other hand, the share who believe it is a good time to buy and sell a home moved further apart. Sixty-eight percent of consumers now say it is a good time buy, an increase of 3 percentage points, compared to 39 percent who say it is a good time to sell, a 5 percentage point drop.
 
“November’s National Housing Survey results support the 2014 trend of gradual, but often sporadic and unspectacular, improvement across a range of indicators measuring consumer attitudes toward housing – mirroring the uneven recovery in housing activity this year,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “More encouraging is the steady upward trend this year in consumers’ assessment of their personal finances, with 46 percent of Americans – near the survey’s high – expecting their personal financial situation to improve over the next 12 months. We expect consumer attitudes toward housing to improve as the pickup in the overall economy lifts employment and income prospects. However, a sustained improvement in sentiment that could support a robust housing recovery, as policy support is removed, will require meaningful gains in household income. While such gains have so far been elusive, the strength in the November jobs report, which points to faster growth in labor income in the current quarter, marks a good start.”
 
For the rest of the Highlights - http://www.fanniemae.com/portal/about-us/media/corporate-news/2014/6202.html

More info - http://www.fanniemae.com/resources/file/research/housingsurvey/pdf/nhs-monthly-data-120814.pdf

At goodmortgage.com you can learn about the mortgage process at www.goodmortgage.com/learn, calculate all the options and payments you want at www.goodmortgage.com/calculators, and review today's rates and receive electronic rate updates at www.goodmortgage.com/rates.


Click here for all goodmortgage.com News

Click here to learn more in goodmortgage.com Mortgage School